Two high-profile officials from Hong Kong have unexpectedly withdrawn from participating in the upcoming Bitcoin Conference. Their exit has raised questions regarding the reasons behind this decision, given the importance of the event for the cryptocurrency market.
Reasons for Officials' Withdrawal
According to a recent Bloomberg report, Hong Kong officials Eric Yip Chee-hang and legislator Johnny Ng Kit-chong have pulled out of the highly anticipated Bitcoin Conference to avoid interactions with Eric Trump, who is scheduled to speak at the event. Lawmakers were cautioned against attending events that featured the US representative, despite the significance of the conference for the cryptocurrency's future.
Eric Trump's Participation
Reports indicate that Eric Trump, son of US President Donald Trump, is set to attend and speak at the Bitcoin Conference, which will take place on August 28 and 29. He is expected to participate in two 30-minute sessions on Friday. Initially, Yip and Ng were slated as keynote speakers, but their names were discreetly removed from the program by August 28.
Context of US-China Trade Relations
Hong Kong is facing growing pressure to distance itself from the US administration amid hefty tariffs of up to 145% imposed on certain Hong Kong exports as US-China trade tensions escalate. A consultant to Beijing's semi-official think tank, Lau Siu-kai, revealed that the decision is connected to the ongoing US-China trade war. "Under the intense China-US relations, it is only natural to avoid any impression that Hong Kong is doing something that helps or pleases the US," Lau stated.
The withdrawal of the officials from the conference highlights the increasing attention to international relations and their impact on events related to cryptocurrency. Such decisions may influence how Hong Kong is perceived as a hub for cryptocurrency business.
